The post MUSKIT Explodes 300% – Best Meme Coin to Buy Next appeared on BitcoinEthereumNews.com.

MUSKIT, a new meme coin reportedly backed by Elon Musk’s father, has surged over 300% in the past 24 hours. The token’s rapid rise has caught the attention of traders, but its long-term prospects remain uncertain. With the meme coin market growing increasingly crowded, will MUSKIT sustain its momentum or fade into obscurity? Will MUSKIT Maintain Its Momentum or Fade Away? Elon Musk’s father, Errol Musk, is reportedly backing a new meme coin called Musk It (MUSKIT). This project has already seen explosive price action, surging over 300% in the past 24 hours, according to DEXTools. At the time of writing, MUSKIT is trading at approximately $0.035, with a market cap of around $44 million. Launched in early December, the meme coin gained traction after Forbes Crypto reported on it last Thursday. Currently, $0.030 to $0.032 serves as an immediate support zone for MUSKIT. If the price drops below this range, the token could retreat further to the $0.020 to $0.025 area. On the upside, $0.080 stands as a key resistance level, and breaking through this barrier could fuel another rally. MUSKIT’s rapid surge has drawn interest from traders and investors eager to capitalize on its connection to the Musk name. However, its long-term viability remains uncertain, as it lacks a clear value proposition beyond its association with the Musk family. While its official X page promotes MUSKIT as the “coin of revolution, progress, and breaking barriers,” there is little evidence of real utility beyond meme-driven hype. As 2025 unfolds, the meme coin market is likely to become even more saturated, with high-profile figures launching their own tokens. Trump’s entry into crypto may have paved the way for influencers across politics, business, and entertainment to follow suit. Joe Rogan speculates on launching a $JRE cryptocurrency meme coin.pic.twitter.com/IeWYuw9k46 — Altcoin Daily…

---

Filed under: News - @ February 2, 2025 8:24 am